Advanced Asset Management Advisors Inc Has $1.59 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Advanced Asset Management Advisors Inc lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,056 shares of the utilities provider’s stock after selling 396 shares during the quarter. Advanced Asset Management Advisors Inc’s holdings in Public Service Enterprise Group were worth $1,593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares during the last quarter. Hsbc Holdings PLC boosted its position in Public Service Enterprise Group by 118.1% during the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after purchasing an additional 738,684 shares during the period. Assetmark Inc. raised its position in shares of Public Service Enterprise Group by 562.8% in the third quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock valued at $49,504,000 after purchasing an additional 738,619 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after buying an additional 726,613 shares during the period. Finally, Bank of Nova Scotia grew its position in shares of Public Service Enterprise Group by 1,350.4% in the third quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock valued at $30,353,000 after purchasing an additional 496,581 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders have sold 7,948 shares of company stock worth $511,814 in the last 90 days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.3 %

NYSE PEG traded up $0.86 during trading hours on Thursday, hitting $68.09. The company’s stock had a trading volume of 2,526,913 shares, compared to its average volume of 2,841,935. The company has a market capitalization of $33.95 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $68.31. The company’s 50-day simple moving average is $64.31 and its two-hundred day simple moving average is $62.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the business earned $0.64 EPS. The business’s revenue was down 17.0% on a year-over-year basis. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.52%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEG. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Royal Bank of Canada raised their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Evercore ISI boosted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Bank of America lifted their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.15.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.